A RESEARCH ON FINANCIAL LITERACY OF DUMLUPINAR UNIVERSITY’S ACADEMIC STAFF

Abstract Financial literacy is one of the most important issues emerging on the agenda of the economic literature in the aftermath of the 2008 global financial crisis. The lack of financial knowledge of both individuals and institutions play a major role in contributing to the 2008 global financial crisis. In this study, the level of financial literacy of Dumlupinar University's academic staff was determined with the help of survey questionnaires. Accordingly, a survey form consisting of 40 questions was developed by using the scales of relevant institutions and researchers. 734 out of 1165 academic staff, working at the University completed the survey for the 2016-2017 academic year out of which 505 forms were found to be appropriate to assess. All variables in the survey were in categorical form and the first level was taken as the “reference level”. The obtained data were analyzed by “binary logistic regression analysis method”. Monitoring economic and financial developments, the level of knowledge on credit card details, budgeting habit, saving and investment ability, the level of general knowledge relating to banking regulations, and the knowledge of calculating the inflation rate and rate of return were among the factors that influence the level of financial literacy. The dependent variable of the study was, “Do you describe yourself as financially literate?” 117 academic staff answered this question as “yes” (23.2%) and 388 “no” (76.8%). 51 of the academic staff, who described themselves as financially literate could be considered as financially literate while 24 of the academic staff who did not describe themselves as financially literate could be considered as financially literate.